The Long Goodbye

After a rocky 13-year reign, Microsoft CEO Steve Ballmer is stepping down. How the shares could prosper in a shareholder-friendly, post-Ballmer era.

The coming departure of Microsoft CEO Steve Ballmer, the tech executive that Wall Street has loved to hate, finally gives the software giant an opportunity to find a new shareholder-friendly leader with strategic vision. Ballmer, 57, has held the top job for more than 13 years.

Wall Street welcomed the surprise news Friday of Ballmer's retirement, which will occur during the next year once a successor is named. Microsoft shares rose 7% Friday, to $34.75, and were up nearly 10% on the week. They could head into the high...